Monday 10 December

Professor Mazzucato met with the Hon. Chris Bowen MP, the Opposition Shadow Treasurer in the Federal Parliament and other members of the Opposition economic policy team, including Shadow Finance Minister, Jim Chalmers, and Shadow Minister for Justice and Financial Services, Clare O’Neil MP. The focus of the conversation was how to translate the mission-led innovation model into policy and strategy.

Tuesday 11 December

In the morning, a policy breakfast was hosted by Martin Hoffman, Secretary of the New South Wales Department of Finance, Services and Innovation. Participants included some of the leading figures in innovation policy and strategy at the national and state level and the conversation explored the role, capabilities and culture of the public sector and its leadership. Mariana explained why that formed such a central theme in her framing of mission-led innovation, what specific capabilities were now at a premium in a confident and creative public service, and how some of those capabilities can be nurtured and deployed.

Later that morning, Mariana met with Ian Learmonth, CEO of the Clean Energy Finance Corporation (CEFC), one of the world’s largest “green banks” and an increasingly influential provider of long-term, “patient” capital and investment to support a major transition to green economy, particularly in energy. The conversation explored ways in which the CEFC could engage Mariana’s thinking and experience to more effectively frame both the work of CEFC and the power and impact of new forms of bold investment strategies for different aspects of Australia’s green transition.

Wednesday 12 December

The visit shifted to Melbourne and started with an invitation-only roundtable that brought together a formidable group of senior policy makers, investors, business people and innovation leaders to tackle tough questions about how Australia could reconfigure public policy and delivery systems to tackle its big challenges. What would that look like in Australia? What would be some of the practical considerations of reform and new practice for the public service, for policy and political leadership, for the interaction between business and government and, crucially, for the quality and value of engagement with citizens and communities?

Prior to the round table, Mariana met with Ken Smith, Dean of the Australia New Zealand School of Government to discuss ways in which the IIPP’s teaching and research work, including its new MPA in Management and Public Value, could be integrated into teaching and learning platforms for Australian leaders in government, business and civil society.

The day concluded with a dinner, hosted by the Vice-Chancellor and President of Monash University, Professor Margaret Gardner. Around the table, the themes of the roundtable were explored in more depth and detail — what will it take to shape big, bold public missions for public value with a new language about, and confidence in, the capacity of the public sector.

Thursday 13 December

In the morning, Mariana met with a group of senior officials from the Australian Council of Trade Unions (ACTU). The conversation raised some important observations about the role and value of unions, both as part of a larger movement in wider civil society as well their role as organisations in the industrial relations and employment system.

The ACTU’s emerging “Just Transitions” initiative in the energy and resources sector was seen firmly as an example of a more positive approach to co-shaping markets and sectors as they make important structural changes. Participants agreed this approach should be as important for the big challenges in other domains; for example, the need to design new systems of health and social care.

Friday 14 December

Following the FYA breakfast gathering, Mariana Mazzucato met with the CEO of the CSIRO, Dr Larry Marshall, and exchanged ideas and insights about the fundamental importance of well-funded public research in fuelling a strong, innovative and competitive economy. CSIRO’s work in support of several major “missions” focused on big Australian social and environmental challenges was discussed, along with opportunities for concrete links between CSIRO and IIPP such as through the Mission Oriented Innovation Network (MOIN).